First County Bank CT Sells 2,229 Shares of Philip Morris International Inc. $PM

Key Points

• First County Bank CT reduced its stake in Philip Morris International by 11.4%, selling 2,229 shares, and now holds 17,323 shares worth approximately $3.16 million.
• The company recently increased its quarterly dividend from $1.35 to $1.47, representing an annual yield of 3.6% despite a payout ratio of 102.66%.
• Analysts have mixed ratings on the stock, with a consensus rating of "Moderate Buy" and an average target price of $189.40.

First County Bank CT trimmed its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 11.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,323 shares of the company's stock after selling 2,229 shares during the quarter. Philip Morris International comprises about 1.7% of First County Bank CT's portfolio, making the stock its 10th biggest position. First County Bank CT's holdings in Philip Morris International were worth $3,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Philip Morris International by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock valued at $22,320,878,000 after purchasing an additional 1,189,283 shares during the period. Wellington Management Group LLP lifted its stake in shares of Philip Morris International by 26.4% in the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company's stock valued at $3,466,730,000 after purchasing an additional 4,563,632 shares during the period. Nuveen LLC acquired a new position in shares of Philip Morris International in the 1st quarter valued at about $1,712,994,000. Goldman Sachs Group Inc. raised its stake in Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock worth $1,554,686,000 after buying an additional 3,575,158 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Philip Morris International by 22.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company's stock worth $1,431,527,000 after acquiring an additional 1,635,636 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PM. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup reaffirmed a "buy" rating on shares of Philip Morris International in a research report on Thursday, September 4th. JPMorgan Chase & Co. upped their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Bank of America upped their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Jefferies Financial Group initiated coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $189.40.

Philip Morris International Stock Up 0.4%

Shares of Philip Morris International stock opened at $164.70 on Monday. The company has a market cap of $256.37 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 2.38 and a beta of 0.49. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69. The business has a 50 day moving average price of $165.55 and a 200-day moving average price of $168.55.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05. The company had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.Philip Morris International's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.59 earnings per share. Philip Morris International has set its Q3 2025 guidance at 2.080-2.130 EPS. As a group, research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a $1.47 dividend. This is a boost from Philip Morris International's previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, October 3rd. Philip Morris International's dividend payout ratio is currently 102.66%.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.

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